AUSTIN, Texas--(BUSINESS WIRE)--Elevate Brands, a leader in acquiring and operating Amazon third-party businesses, today announced its newest headquarters in Austin, Texas. Elevate Brands recently raised $55 million in funding and is on pace to create a dynamic portfolio of 100 category-leading native-commerce brands. The Austin headquarters gives Elevate Brands a footprint in the nation’s rapidly growing tech hub and close proximity to the nation’s third largest market of Amazon Marketplace sellers.
“We started the company with our headquarters in New York, but given the pandemic, we’ve had the opportunity to reimagine the workplace and adopt a far more flexible work environment,” said Ryan Gnesin, CEO of Elevate Brands. “With our rapidly scaling team and a shift in where people want to live today, we've decided to open a second headquarters in Austin, which enjoys a deep talent pool and thriving tech community."
Since acquiring its first Amazon business more than 12 months ago, Elevate Brands reported more than 100% average post-acquisition growth across its portfolio and is expected to hit $150 million in revenue by the end of 2021. The company is poised to be one of the leading platforms in the marketplace.
Surrounded by world-renowned and locally revered tech companies, Elevate Brands' new location is in Austin’s bustling 2nd Street District at Galvanize Austin. The company’s Austin headquarters will house its current team, including Ryan Gnesin, founder and CEO; Jeremy Bell, chief M&A officer; Amedio Palmieri, chief supply chain officer; and, Rob Bell, chief growth officer. The company is growing its Austin team with additional hires in the area.
About Elevate Brands
Founded in Q4 2016, Elevate Brands taps into the high-growth Amazon Third Party Seller Marketplace, a $300 billion marketplace that is expected to double in the next five years. Elevate Brands specializes in acquiring, launching and operating leading consumer Amazon brands. Elevate Brands has a global team of industry leaders with headquarters in New York and Austin, Texas. Its broad network of resources provides a unique ability for brands to scale quickly. The company structures its underwriting process to execute quickly, closing the deal within a matter of weeks, not months. The company founders previously built their own brands on Amazon, bringing valuable insight to the challenges that sellers face.